Business
Calidus commences Novo JV and exercise of Option
Calidus commences Novo JV and exercise of Option.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6226V Keras Resources PLC 06 November 2017 \n\nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n6 November 2017\nKeras Resources plc ('Keras')\nCalidus announces commencement of Novo JV,\nexercise of Haoma Option and receipt of funds\n \nKeras Resources plc, the AIM listed mineral resource company, is pleased to provide an update following an announcement published by Calidus Resources Limited ('Calidus'), in which Keras currently holds a 217.25m shares, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. Calidus has announced that it has completed its due diligence on the Novo Tenements that are included in the previously announced binding Term Sheet (ASX: 20 September 2017) and has notified Novo Resources Corp. (TSX.V:NVO) that all conditions precedent have been satisfied or waived and it will proceed with the transaction. In addition, based on the exceptional drill results that have been recorded largely on the ground related to the Haoma option, Calidus has exercised its option to acquire these tenements ensuring 100% ownership by Calidus of this rapidly expanding gold development project. \n \nIn addition, the Company has announced the full receipt of funds from the second tranche of the previously announced A$10m placement which results in Calidus being well funded as it continues to develop its assets and add intrinsic value at the Warrawoona Project in the Pilbara of Western Australia.\n \nTo view a full version of the Calidus announcement, which includes figures and maps, please click here: \nhttp://www.investi.com.au/api/announcements/cai/cb4c3af7-8d4.pdf\n \nThis announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.\n**ENDS**\n \n \nFor further information please visit www.kerasplc.com, follow us on Twitter @kerasplc or contact the following:\n\n\n\n\nDave Reeves\n\n\nKeras Resources plc\n\n\[email protected]\n \n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\n\n\n\nGerry Beaney/David Hignell/Jamie Spotswood\n\n\nNorthland Capital Partners Limited\n\n\n+44 (0) 20 3861 6625\n \n\n\n\n\nBroker \n\n\n\n\nDamon Heath/Erik Woolgar\n\n\nShard Capital Partners LLP\n\n\n+44 (0) 20 7186 9952\n\n\n\n\nTom Curran/Ben Tadd\n\n\nSVS Securities Plc\n\n\n+44 (0) ...